Leverage Strong Cybersecurity to Accelerate Growth
The global cybersecurity market has grown by approximately 35 times what is was in 2004 and is expected to top $1 trillion cumulatively from 2017 to 2021.1 That jump is astonishing until you think about the proliferation of cybercrimes worldwide. When the industry frames a discussion around the need to have strong cybersecurity, more often than not the impetus is to protect valuable business data and prevent costly data breaches and ransomware attacks. These are important reasons to implement strong cybersecurity throughout your entire digital ecosystem — networks, IT infrastructure and systems. But it’s not the only reason.
For decades our company has worked to overcome the negative perceptions surrounding data security. We want to help our clients see cybersecurity as a business enabler to accelerate growth — rather than just an overhead cost to protect data. We’re educating our internal thought leaders to combat fear and coach our customers on the right technologies that protect identities, reputations and businesses.
Viewing cybersecurity as a siloed function apart from other business objectives leaves much growth opportunity on the table. As the world continues its digital transformation, companies that maintain a myopic view of cybersecurity may find themselves left behind other more forward-thinking competitors that leverage security to accelerate growth and achieve business agility.
Strong cybersecurity is the gateway to protecting critical assets, empowering mobile employees, modernizing an aging IT infrastructure, streamlining compliance processes and extending business reach — all of which are critical to success in a time of major digital disruption.
Today, employees are often untethered from the traditional office environment. Increasingly mobile workforces require strong security to be able to work anytime, anywhere and from any mobile device. The rise of Bring-Your-Own-Device (BYOD), Choose-Your-Own-Device (CYOD) and Corporate Owned, Personally Enabled (COPE) environments has brought many new challenges such as deriving mobile credentials, deploying digital certificates and implementing the right mobile security technologies, tools and policies. Yet, overcoming these challenges can open doors to enhanced employee productivity, increased customer loyalty and overall business growth.
In turn, migrating to the Cloud can boost employee performance — giving them access to the tools they need to work and collaborate from any location. But it does take expert guidance to migrate user keys from on-premises to hosted environments, while ensuring regulatory requirements are met. Companies would need either internal resources or trusted partners to accelerate and simplify cloud migrations to plan, design and implement strong cloud computing environments.
Some companies have chosen to stymie business growth because they believe innovation carries too much cybersecurity risk. A recent Cisco survey, “Cybersecurity as a Growth Advantage: Key Insights,” revealed as much. Cisco surveyed 1,014 C-suite company leaders and found that 71% of respondents agreed that cybersecurity risks and threats hindered innovation in their organizations. Furthermore, 39% of the leaders indicated their organization had halted a mission-critical initiative due to cybersecurity concerns.
The key here is confidence. If companies believed that they could expand their digital ecosystem with real confidence, they could dispel much of the cybersecurity risk paralysis that hinders growth initiatives and innovation today. While also maintaining compliance and avoiding the next big data breach headline.
At Cygnacom, we’ve become a trusted partner to enterprise companies and government agencies alike, helping them go digital with true security and forging a path for innovation and growth. How does your organization want to innovate and grow?
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1. Cybersecurity Ventures’ 2019 Cybersecurity Market Report, June 2019
Venafi pioneered the machine identity protection market. Today, amid growing cybersecurity threats, it provides leading encryption technology solutions to the highly security conscious Global 5000. Its solutions secure cryptographic keys and digital certificates that both business and government agencies rely on for secure machine-to-machine connections and communications. Venafi holds 30 patents and devotes $12.5 million a year to its Machine Identity Protection Development Fund to promote the development of integrations with the Venafi Platform, sponsoring accelerated expansion of the Venafi ecosystem.